Total technology industry cloud M&A deals worth $2.9bn were announced in North America in June 2022, led by Siemens’ $1.88bn acquisition of Brightly Software, according to GlobalData’s deals database.

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The value marked a decrease of 95.9% over the previous month of $69.23bn and a drop of 69.2% when compared with the last 12-month average of $9.29bn.

North America held a 75.66% share of the global technology industry cloud M&A deal value that totalled $3.78bn in June 2022. With a 75.66% share and deals worth $2.86bn, the US was the top country in North America’s cloud M&A deal value across technology industry.

In terms of cloud M&A deal activity, North America recorded 42 deals during June 2022, marking an increase of 10.53% over the previous month and a drop of 4.55% over the 12-month average. The US recorded 36 deals during the month.

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By GlobalData

North America technology industry cloud M&A deals in June 2022: Top deals

The top five technology industry cloud M&A deals accounted for 98.3% of the overall value during June 2022.

The combined value of the top five technology cloud deals stood at $2.81bn, against the overall value of $2.86bn recorded for the month.

The top five technology industry cloud M&A deals of June 2022 tracked by GlobalData were:

1) Siemens $1.88bn acquisition deal with Brightly Software

2) The $320.29m acquisition of Steel Connect by Steel Partners Holdings

3) SMART Global Holdings $275m acquisition deal with Stratus Technologies

4) The $200m acquisition of SumTotal Systems by Cornerstone OnDemand

5) Descartes Systems Group $140m acquisition deal with XPS Technologies